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FairPlum, a food company founded by ex-Unilever Senior Executives Rupesh Agarwal, Mayank Tandon & Mitesh Thakkar has raised $2 Million in series seed round funding led by Unicorn India Ventures.
The round also saw participation from a clutch of angel investors including Vivek Sirohi (VP-R&D Unilever), Amith Agarwal (Co-Founder & CEO of Agri-Bazaar), Dinshaw Family Office, and Anisha Subandh.
Fairplum is working with the regional/ local authentic & heritage food brands of India and taking nostalgic dishes from their kitchen and making them available to consumers sitting anywhere by using food technology, food science, and a supply chain network of cloud kitchens.
The food company has partnered with popular food brands and food entrepreneurs from across India to make available authentic food specialties they miss through the brand concept “Food Karavan”.
FairPlum plans to have 100 Cloud Kitchen locations, 1 Physical experience center, and 5-10 kiosks within 2022 starting from Delhi-NCR & Mumbai. The food company operates in 17 locations and has confirmed 10 more cloud kitchen locations and 1 Physical Experience center in Thane along with Bikanervala which is expected to go live in the next 2 months.
Speaking on the investment, Anil Joshi, Managing Partner, Unicorn India Ventures, said, “FairPlum leverages technology to enhance efficiency and preserve the taste of the food which will be delivered in under an hour. Their ability to adapt to the changing trend driven by technology has made the world closer to the consumer. Today, consumer wants what they see and with immediate fulfillment. The food industry is undergoing a significant revolution, especially with its creativity, innovation, and cutting-edge technologies. We saw a strong pipeline of user base and business traction addressing food nostalgia which is why we decided to invest in them further”
Commenting on the fundraise, Rupesh Agrawal, Founder & CEO, FairPlum, said, “Fairplum wants to make foods/brands accessible by bringing authentic foods from across the world at great quality, and value. Our vision is to run a network of hundreds of cloud kitchens/ physical experience centers on which we will ride our most authentic and iconic foods and their brands from all over the world. The purpose is to deliver food products to consumers by preserving goodness healthily and hygienically. We will use the fresh funds to improve consumer experience with innovations in technology and upgrade the infrastructure by expanding the platform to other strategic territories.”
“The sole advisors to the deal, adds, “Today’s generation has very specific tastes and would highly appreciate the fact that their favorite food is made available at their doorstep. I believe this could be a very large & scalable opportunity for FairPlum,” Nitesh Arora, President, Credence Family Office added.